Apr 19, 2012, 12.16 PM | Source: CNBC-TV18
One can buy VIP Industries, says Sudarshan Sukhani of s2analytics.com.
Sudarshan Sukhani (more)
Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical
Sukhani told CNBC-TV18, "VIP Industries is making an attractive consolidation pattern which is also a reversal of the correction that it went through. It is a buying opportunity, it is not an investment grade stock and a trader should be looking to go long in it but there is 10-15% upside from here. So it is worth looking at."
He further added, " GVK made a big move and it is not the only stock, Tata Power also made a similar move, so there is something going on in the sector itself. So GVK Power is being supported by the tailwinds on the sector. The target for the move that broke out yesterday is about Rs 20.5, so there is more headroom. Now you don’t have to buy it on the open today, always when big moves are made, traders who have patience make lot of money, you wait patiently, it will correct, it will consolidate but that is the time, it is worth taking a long position there."